Stocks end four-day losing streak rising 0.22 percent

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Stocks end four-day losing streak rising 0.22 percent

 
A screen shows the closing figure for the Kospi in a trading room at Hana Bank in Jung District, central Seoul, on Monday. [YONHAP]

A screen shows the closing figure for the Kospi in a trading room at Hana Bank in Jung District, central Seoul, on Monday. [YONHAP]

 
Stocks ended a four-session losing streak Monday on a bargain-hunting rush despite disappointing growth data from China. The won rose against the dollar.
 
The benchmark Kospi rose 5.21 points, or 0.22 percent, to close at 2,346.74.
 
Trading volume was moderate at about 911 million shares worth some 10.2 trillion won ($8.9 billion), with gainers outnumbering losers 442 to 394.
 
Institutions purchased a net 297 billion won, and foreigners bought a net 43 billion won. Retail investors sold a net 352 billion won.
 
"Local stocks came to a strong start on a bargain-hunting rush and extended gains over institutional and foreign buying," said Kiwoom Securities analyst Seo Sang-young.
 
"But China's lower-than-expected economic growth [in the third quarter] seems to have worked to erase part of those earlier gains," he added.
 
Chipmakers led the Kospi's gain, while most other top caps closed lower.
 
Samsung Electronics added 0.84 percent to 60,000 won, and SK hynix gained 1.64 percent to 86,700 won.
 
Pharmaceutical firm Samsung Biologics slipped 0.15 percent to 686,000 won, and Celltrion lost 0.39 percent to 255,500 won.
 
Internet portal Naver dipped 2.56 percent to 286,000 won, with its rival Kakao down 1.26 percent to 353,000 won.
 
Chemical maker LG Chem fell 3.91 percent to 615,000 won, and rechargeable battery maker Samsung SDI dropped 1.67 percent to 413,000 won.
 
Hyundai Motor fell 2.33 percent to 168,000 won, while steelmaker Posco advanced 3.22 percent to 208,500 won.  
The Kosdaq fell 11.59 points, or 1.39 percent, to close at 822.25.  
 
The local currency closed at 1,142.0 won per dollar, down 5.4 won from the previous session's close.
 
Bonds, which move inversely to yields, finished lower. The yield on three-year bonds rose 0.9 basis points to 0.892 percent, and the return on 10-year bonds rose 0.8 basis points to 0.74 percent. 
 
BY LEE JEE-YOUNG, YONHAP   [lee.jeeyoung1@joongang.co.kr] 

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